Los Angeles Has Highest Sales Volume in US
Los Angeles County has the highest sales volume in the country. According to a recent report, the county had $28 billion in total commercial real estate sales volume in 2019, the highest in the nation. The activity is on trend with the sales average for the last four years in the market.
No surprise, industrial and multifamily were the most popular investment asset classes. Industrial sales accounted for $7.7 billion of the total sales volume, compared to $4.9 billion in 2018. “Industrial and multifamily have been the clear winners over the last cycle, benefitting from both space market and capital market tailwinds. Industrial activity has primarily been driven by investors looking to capitalize on the explosive growth in e-commerce”, “In many ways industrial is the new retail. Growing from less than 5% at the beginning of the decade, e-commerce now represents nearly 12% of all retail sales. With consumers increasingly demanding two-day or next-day delivery, logistics facilities ranging from bulk warehouses to last-mile distribution sites are key links in the 21st century supply chain.”